UPS reported a first-quarter net profit of $906 million, down 12.2% from $1.03 billion last year, and said second-quarter earnings will be flat at best owing to an "anemic" economy. "US economic activity deteriorated more rapidly than expected during the [first] quarter," Chairman and CEO Scott Davis said. Revenue increased 6.5% to $12.68 billion while expenses grew 6% to $11.18 billion, producing operating income of $1.49 billion, up 9.9% over $1.35 billion last year. International package ...

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